Real
estate scams are more and more popular, even if we can't see them yet. Compared
to robbing a bank, thieving $600,000-worth property via a false deed or an
identity theft is trivial - and extraordinarily safe for the thieves. Their
imagination is amazing and oftentimes we can't do much more than minimizing the
damage they impose. By becoming aware of the most frequent real estate scams,
you may be able to keep yourself or someone you discern.
Most real estate frauds turn around fake activities. The most popular scam is using a false deed in order to get a loan secured against a property. Another common real estate fraud is selling a property without the owner’s approval. The unoccupied, recently inherited and otherwise unguarded property is the most likely target for such scams.
The false actions are bad enough, as such scams typically hit at random and they often can be reversed after the deed is thoroughly checked. However, the problem begins when the scam is performed using a real deed, one that was either stolen or simply taken from the proprietor.
The most popular way is to get some
kind of approval from the owner in addition to an action. This way the thief
can do whatever they like with no real risk for being caught. Defending against
such frauds is difficult and if the thieves use false activities, it is
possible to show that you had nothing to do with the loan or purchase.
However, if they use a real deed
and have your approval, this gets risky. And taking effective legal actions is
next to impossible if you sign the loan papers.
More Real Estate News: Jeff Adams Scam Awareness
